Best Investing Books of All Time

#1 The Intelligent Investor by Benjamin Graham (13 out of 24)

He continues, “Chapters 8 and 20 have been the bedrock of my investing activities for more than 60 years. I suggest that all investors read those chapters and reread them every time the market has been especially strong or weak.”

First published in 1949, Benjamin Graham’s classic The Intelligent Investor has impacted generations of investors.

Graham himself revised the book four times, with his last revision being published in 1971. In 2003, respected Wall Street Journal financial columnist Jason Zweig, updated the book with his own commentaries and footnotes.

Recommended on 13 reading lists, The Intelligent Investor comes in at #1 on the list of best investing books of all time.

# 2 – You Can Be A Stock Market Genius by Joel Greenblatt (10 out of 24)

While not a hidden gem, it’s fair to say You Can Be A Stock Market Genius has gone under the radar with a ranking of #79 in Amazon’s finance section. (Greenblatt’s second book, The Little Book That Beats The Market is #23)

Researching these opportunities does require work. Which may be part of the reason the book hasn’t caught in with the individual investor. However, with 10 recommendations, You Can Be A Stock Market Geniushas greatly influenced the many of the best investors of our generation.

# 3 – The Essays of Warren Buffett (9 out of 24)

Coming in at # 3 on the best investing book of all time is Warren Buffett’s annual letters.

Buffett has shared his wisdom and methods for over 30 years in his letters to shareholders of Berkshire Hathaway.

# 5-7 – Reminiscences of a Stock Operator by Edwin Lefèvre (7 out of 24)

The book is a fictionalized biography of one of the greatest investors of the time Jesse Livermore.

Livermore made and lost millions multiple times throughout his career. His most famous move–shorting the market in 1929.

Livermore ended his own life in 1940, after losing most of what he made (reportedly over $100 million). The life story of Livermore remains relevant today for its views on investor psychology, speculating, and the nature of the market.

# 5-7 – The Money Masters by John Train (7 out of 24)

The classic The Money Masters by John Train was tied for 5th as the most recommended book.

While popular among hedge fund managers, The Money Masters is ranked only #2,584 in Amazon’s finance section.

Originally published in 1980, The Money Masters goes deep into the strategies of the most successful investors of the time. Including in-depth profiles on the strategies used by Warren Buffett, Benjamin Graham, Phil Fisher, and John Templeton.

In a day with no Internet, blogs, and 24-7 investment news, The Money Masters was one of the first books to uncover the range of strategies used by the top money managers of the day.

# 5-7 – The Warren Buffett Way by Robert Hagstrom (7 out of 24)

There’s no question Warren Buffett has and will continue to influence the investment community.

Having written decades of letters containing his wisdom and never one to back away from an interview, Buffett’s been generous sharing his investment philosophy over the years. So it’s no wonder why his footprints are all over this list of best investing books.

What’s unique about The Warren Buffett Way is that it dives deep into the actuall strategies Warren Buffett has used to succeed. It’s the definitive book on his strategies from an outsider’s point of view.

Originally written in 1997, The Warren Buffett Way was revised in 2013 to analyze Buffett’s latest investments.

# 8 & 9 – Market Wizards by Jack D. Schwager (6 out of 24)

What are the skills that top investment traders across asset classes such as commodities, equities, currencies, and bonds possess?

Originally written in 1989, Market Wizards was updated in 2012, with interviews from this generation’s top traders.

# 8 & 9 – Margin of Safety by Seth Klarman (6 out of 24)

Margin of safety is the difference between the intrinsic value of a stock and its market price. Seth Klarman has used the concept to become one of the most successful hedge fund managers of the day at The Baupost Group.

Often called the “next Warren Buffett” by the media, Klarman is a classic value investor.

In his book, Klarman dives deep into the Margin of Safety philosophy, showing why it’s the most important thing for investors to understand.

As the book is out of print, used copies often go for over $1,000. The lowest price on Amazon for a used copy is $899.

# 10 – Extraordinary Popular Delusions by Charles Mackay (5 out of 24)

With stories from the famous bubbles such as The Mississippi Company, South Sea Company, and Tulip Mania, Mackay provides plenty of insight into how humans have committed financial folly over time.

What makes this book so popular today is that history has shown to repeat itself. Whether the internet bubble of the late 90’s to the housing crash in 2008, the same principles of human behavior are around today. So, it should come as no surprise that this book is on the reading lists of Goldman Sachs and Universities like Florida and New York.

#11 – 14 – Common Stock, Uncommon Profits and Other Writings by Philip Fisher (4 out of 24)

Buffett has said about the book, “I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits…A thorough understanding of the business, obtained by using Phil’s techniques…enables one to make intelligent investment commitments.”

With insight into evaluating earnings and management, it’s easy to see how Phillip Fisher’s classic Common Stock, Uncommon Profits and Other Writings helped Buffett build upon the concepts he learned from Benjamin Graham.

# 11 – 14 – One Up On Wall Street by Peter Lynch (4 out of 24)

Operating the Magellan Fund between 1977 to 1990, Peter Lynch returned an annual average return to investors of 29%. Beating the S&P Index in 11 of the 13 years.

In his book One Up On Wall Street, Peter Lynch explains how individual investors discusses his philosophy and methods, to help the individual investor succeed.

First published in 2000, making it the 2nd youngest book on the list, One Up On Wall Street has become very popular among individual investors (over 590 reviews on Amazon) for its view on how the average investor has advantages over large money managers.

For its simple approach to investing (one sentence summary: invest in products/companies you know and love), there’s no question One Up On Wall Street will continue to impact not only the individual investors but tomorrow’s top hedge fund managers as well.

#11 – 14 – When Genius Failed by Roger Lowenstein (4 out of 24)

Warren Buffett has said, “What we learn from history is that people don’t learn from history.”

About The Author

R.J. Weiss is the founder and editor of The Ways To Wealth, a Certified Financial Planner™, husband and father of three. He's spent the last 10+ years writing about personal finance and has been featured in Forbes, Bloomberg, MSN Money, and other publications.

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